[1] The group is gold miner who operates in Kelantan, Malaysia. Business commenced on 2007 and listed on 2011.
[2] With CIL plant in place, management expects gold production to ramp up on FY2019. Potential income from production and sales of silver, lead & zinc once flotation plant commences operation.
HIGHLIGHTS:
[1] It's in net cash position with US$17mil now. Net asset value is S$0.14. Current price translates to P/B ~ 1.5. Management proposed dividend $0.002 for FY2018, pending for approval from AGM.
[2] Gold price has been moving to the high size of past 4 years. Higher gold sales price incorporated with expected higher production volume could contribute positively to the group's earning on coming quarter.
The counter has been range bouncing between 0.185 to 0.24 since mid 2018. This is considered low range of its historical price range since IPO. Recent rally in gold price have provided support to it's share price. Shall the rally continue, trader could position for potential break up from 0.24.
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